State-owned Chinese yards ‘avoid’ Tier II newbuildings

Shipping companies seeking to order low-price newbuildings built to the International Maritime Organization (IMO)’s old Tier II standards at state-owned Chinese shipyards may see the door closing.

TradeWinds is told that leaders of the country’s major shipbuilding groups — China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC) — are avoiding taking Tier II vessel contracts because of the “risks” involved.